Lending Best Practices
Loans and Responsible Lending
TrustedLoanNetwork.com ensures that all of the Lenders in our network adhere to responsible lending practices and follow the highest industry standards. Our Lenders are committed to meeting the needs of our customers while providing a quality financial product.
Lending Best Practices
TrustedLoanNetwork.com works diligently to provide consumers with the best customer service and an easy, upfront application process. We also strive to provide the most up-to-date information to properly inform consumers about the loan application process.
- We present our consumers with easy to understand, in depth explanations on the loan connecting process, their responsibilities as loan borrower's, and the repercussions of failing to pay back loans on time.
- We provide clear, transparent information to our customers and treat them with the utmost courtesy and respect.
Choosing the Right Lender for You
TrustedLoanNetwork.com will process your request in a secure environment, and connect you to our vast lender network. Once you have been connected with a Lender, you should thoroughly review the specific interest rate and fees that will apply to your loan. It is also important to check the repayment options and to understand the agreement made between you and the Lender. At any point in the application process, you can decide whether or not you wish to continue with the terms offered.
Impact to Credit Score
Your Lender may report late or missed payments to the credit bureaus. This can negatively affect your credit score. Consumers with credit difficulties should seek credit counseling.
Truth in Lending Act
The Truth in Lending Act requires every Lender to present, in writing, the exact rates, fees, rollover charges, late fees and other details of their loan before a consumer assumes any obligation to initiate the loan process. The Lenders terms cannot exceed applicable laws, rules, and regulations.
Fair Debt Collection Practices Act
While you are repaying your loan, you are protected by the Fair Debt Collections Act, which is enforced by the Federal Trade Commission. All third party debt collectors are required to abide by this law. The act requires that third party debt collectors comply with fair debt collection practices, which includes limitations on when and how you can be contacted about your debt, and other communication methods.
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